Itau Unibanco Holding S.A. raised its holdings in Raytheon (NYSE:RTN) by 43.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,968 shares of the aerospace company’s stock after buying an additional 1,495 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Raytheon were worth $933,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Signature Estate & Investment Advisors LLC acquired a new stake in Raytheon in the third quarter valued at approximately $103,000. Stonehearth Capital Management LLC acquired a new stake in Raytheon in the fourth quarter valued at approximately $103,000. Rowland & Co. Investment Counsel ADV acquired a new stake in Raytheon in the fourth quarter valued at approximately $106,000. Global Trust Asset Management LLC acquired a new stake in Raytheon in the fourth quarter valued at approximately $136,000. Finally, Invictus RG acquired a new stake in Raytheon in the third quarter valued at approximately $152,000. 71.98% of the stock is currently owned by institutional investors.
In related news, CAO Michael J. Wood sold 3,989 shares of Raytheon stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.88, for a total transaction of $861,145.32. Following the transaction, the chief accounting officer now owns 22,260 shares in the company, valued at $4,805,488.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Thomas A. Kennedy sold 44,778 shares of Raytheon stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $215.90, for a total value of $9,667,570.20. Following the transaction, the chairman now owns 138,339 shares in the company, valued at approximately $29,867,390.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,792 shares of company stock worth $14,973,517. 0.19% of the stock is currently owned by company insiders.
Shares of Raytheon (NYSE RTN) opened at $217.73 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.54 and a quick ratio of 1.46. The stock has a market capitalization of $62,816.41, a P/E ratio of 28.24, a PEG ratio of 2.06 and a beta of 0.76. Raytheon has a 12 month low of $148.65 and a 12 month high of $218.78.
Raytheon (NYSE:RTN) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.01. The firm had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.81 billion. Raytheon had a return on equity of 21.36% and a net margin of 7.98%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. research analysts predict that Raytheon will post 9.65 EPS for the current fiscal year.
Raytheon declared that its Board of Directors has approved a share buyback program on Wednesday, November 15th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Raytheon Company Profile
Raytheon Company is a technology company, which specializes in defense and other government markets. The Company develops integrated products, services and solutions in various markets, including sensing; effects; command, control, communications, computers, cyber and intelligence; mission support, and cybersecurity.
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